Here's Why The Iran War Is Prompting A Safe Haven Rethink
Odd Lots
Bloomberg
4.5 • 2K Ratings
🗓️ 21 March 2026
⏱️ 12 minutes
🧾️ Download transcript
Summary
Here's Why is Bloomberg’s short explainer podcast, where we take one big news story and break it down in just a few minutes with help from our experts across the newsroom.
We're dropping into your feed with a special episode featuring Joe Weisenthal, who joined us to discuss why the Iran war is prompting a safe haven rethink.
In times of geopolitical turmoil, investors look for somewhere safe to put their money. US President Donald Trump's trade war helped to fuel a record rally for gold in 2025, but the Iran war is pushing investors to shelter in different places.
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Transcript
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| 0:00.0 | Hello, Oddlots listeners. I'm Stephen Carroll, the host of Bloomberg's Here's Why podcast where we |
| 0:04.9 | break down a key story in the news. We borrowed Joe for our latest episode, so we thought we'd share |
| 0:09.8 | it with you. If you like what you hear, you can subscribe to Here's Why wherever you usually get your |
| 0:14.0 | podcasts. Enjoy. |
| 0:18.1 | Bloomberg Audio Studios. Podcasts, Radio News |
| 0:22.5 | I haven't seen yet a sense of, okay, where's my safe haven? |
| 0:27.4 | Where do I go and park myself? |
| 0:28.7 | The U.S. is benefiting right now from, you know, kind of the safe haven trade at the moment. |
| 0:32.8 | If you can find me a safe haven in this market, I'd be the first one to sign up for that. |
| 0:35.7 | We do see some of the safe havens. |
| 0:38.2 | Sims doesn't perform as good as we expected. |
| 0:40.3 | For example, going silver, Japanese yen and the bonds. |
| 0:44.0 | In times of trouble, investors often look for safer ground. |
| 0:48.1 | During previous crises, that's meant to rush into assets like US treasuries, |
| 0:52.6 | the dollar, the Swiss franc, or gold. |
| 0:55.9 | But the turmoil caused by President Trump's trade tariffs last year |
| 0:59.6 | upended the traditional safe haven trades as investors turned away from US assets. |
| 1:06.2 | And the latest conflict in the Middle East has seen another shift. |
| 1:10.1 | Here's why the Iran war is prompting a safe |
| 1:13.3 | haven rethink. Joe Wisenthal, host of Bloomberg's Oddlots podcast joins us now for more. |
| 1:21.3 | Joe, great to talk to you. Can you help us understand, first of all, the background here. What |
| 1:25.1 | makes a good safe haven asset? Why are |
... |
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